Last checked at 23 Jan 2023 07:00
FOR IMMEDIATE RELEASE 23 JANUARY 2023
CHEMRING GROUP PLC ("Chemring", the "Group" or the "Company")
DIRECTORATE CHANGE
After six years as Chief Financial Officer and a director of the Company, Andrew Lewis has informed the Board of his intention to retire. Andrew's notice period is 12 months; he will continue in role to ensure a smooth transition.
The Board has commenced a search process to identify his successor.
Chairman of Chemring, Carl-Peter Forster, commented:
"Andrew has been a key member of the executive team during a period where Chemring has strongly repositioned itself. His transformation of the Group's finances has placed it in a good position to take advantage of the many opportunities to continue its growth. The Board thanks him for his contribution to Chemring's success and wishes him every success in the future."
-ENDS-
For further information:
Rupert Pittman Group Director of Corporate Affairs, 01794 463401
Chemring Group PLC
Oliver Hughes MHP Communications 020 3128 8100
Ollie Hoare
Notes to editors
· Chemring is a FTSE-250 global business that specialises in the manufacture of high technology products and the provision of services to the aerospace, defence and security markets
· Employing approximately 2,500 people worldwide, and with production facilities in four countries, Chemring meets the needs of customers in more than fifty countries
· Chemring is organised under two strategic product segments: Sensors & Information and Countermeasures & Energetics
· Chemring has a diverse portfolio of products that deliver high reliability solutions to protect people, platforms, missions and information against constantly changing threats
· Operating in niche markets and with strong investment in research and development ("R&D"), Chemring has the agility to rapidly react to urgent customer needs
Remuneration disclosure
Andrew Lewis will be treated in accordance with Chemring's approved remuneration policy. He will continue to be paid in line with Chemring's remuneration policy and the treatment of all elements of his remuneration will be in line with the remuneration policy set out in the 2022 Annual Report and Accounts. Full details of all payments made to and receivable by Andrew Lewis will be disclosed on the Chemring website in due course in compliance with Section 430 (2B) of the Companies Act 2006 and in the directors' remuneration report within the Company's Annual Report and Accounts for the year ending 31 October 2023, and subsequent years, as appropriate.
www.chemring.com.